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WASHINGTON — China’s defense minister declined a meeting with Defense Secretary Lloyd Austin during a meeting of defense leaders in Laos, a move the Pentagon chief said Wednesday was unfortunate. Multilateral gatherings of national security officials in Asia have been used in the past for meetings between U.S. and Chinese defense leaders, but China declined a meeting request by Austin during this week’s Southeast Asian Nations-Plus defense ministers meeting. It affects the region because the region really wants to see us, you know, two significant players in the region, two significant powers, talk to each other,” Austin told reporters. “I don’t think that it has any sort of implications for the future. Chinese President Xi Jinping vowed on Saturday to work with the incoming U.S. administration of Donald Trump as he held his final talks with departing President Joe Biden on conflicts from cybercrime to trade, Taiwan, the South China Sea and Russia.
Persons: WASHINGTON, Lloyd Austin, Wednesday, , ” Austin, ” Austin added.Austin, Dong Jun, Xi Jinping, Donald Trump, Joe Biden Organizations: Pentagon, Austin, Nations Locations: Laos, Asia, China, Singapore, Taiwan, cybercrime, South, Sea, Russia
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWalmart impacted by tariff tensions less than other retailers, says analystMichael Baker of D.A. Davidson says Walmart's size and scale gives it enough heft to push back on supply-chain pressures, adding that the company will be able to manage the impact from tariff wars more than other U.S. retailers.
Persons: Michael Baker of D.A, Davidson Organizations: Walmart Locations: U.S
Customer traffic gains were similar at the two stores, yet Walmart's sales trends looked much better than Target's. Walmart's traffic growth edged out its rival's, with a gain of 3.1% at Walmart U.S. versus 2.4% at Target. Walmart's e-commerce sales in the U.S. rose 22%, a bigger increase than the nearly 11% at Target. About 60% of Target's sales come from discretionary items, such as home goods and clothing. On a call with investors on Wednesday, Cornell pointed to "green shoots" in the business, even as sales results disappointed.
Persons: Brian Cornell, Walmart's, Michael Baker, Davidson, Baker, Paul Lejuez, Kate McShane, Goldman Sachs, Davidson's Baker, Cornell, Michael Lasser, We'll Organizations: Walmart, Walmart U.S, Target, D.A, Amazon, Costco, Citi Research, Deutsche Bank, HSBC Global Research, Citi, Cornell, UBS Locations: U.S, Minneapolis, America
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWalmart is really well positioned ahead of the holidays, says D.A. Davidson's Michael BakerMichael Baker, D.A. Davidson senior research analyst, joins CNBC's 'Squawk on the Street' to discuss outlooks on Walmart, whether tariffs pose any risk to business, and more.
Persons: Davidson's Michael Baker Michael Baker, D.A, Davidson Organizations: Walmart
The narrative from Silicon Valley is that the AI train has left the station and any smart investor had better hop on before these products become “superintelligent” and start solving all the world’s problems. Now, some of the leading language models appear to be hitting a wall, according to at least three reports last week. But if we have indeed hit a scaling wall, “it may mean that the the mega-cap technology companies have over-invested” and it’s possible that they could scale back in the near future. That’s the AI optimist/pragmatist view. For a less rosy outlook, I turned to Gary Marcus, NYU professor emeritus and outspoken critic of AI hype.
Persons: CNN Business ’, New York CNN — It’s, OpenAI, , that’s, , Orion “, Ilya Sutskever, ” Sutskever, Marc Andreessen, Sam Altman, ” Gil Luria, Davidson, it’s, ” Luria, Gary Marcus, ” Marcus, “ LLMs Organizations: CNN Business, New York CNN, Nvidia, Tech, ” Bloomberg, ” Reuters Locations: New York, GPT
Calls of the Day: Snowflake, Wells Fargo and Salesforce
  + stars: | 2024-11-12 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCalls of the Day: Snowflake, Wells Fargo and SalesforceSnowflake earns a spot on D.A. Davidson's 'Best in Breed' list, with Stephanie Link in the mix! The 'Halftime Report' Investment Committee debates this and other Calls of The Day!
Persons: Salesforce Snowflake, Davidson's, Stephanie Link Organizations: Salesforce Locations: Wells Fargo
Baker: Rates continue to come down... housing improves.
  + stars: | 2024-11-12 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBaker: Rates continue to come down... housing improves. Michael Baker, Managing Director at D.A. Davidson, discusses the Fed's rate cuts benefiting housing and Home Depot's focus on the larger pro market, setting it apart from Lowe's.
Persons: Michael Baker, Davidson Locations: Lowe's
Here are Tuesday's biggest calls on Wall Street: Loop initiates NXP Semiconductor as buy The firm said it's bullish on the semiconductor company. Morgan Stanley reiterates Walmart as overweight Morgan Stanley raised its price target on the stock to $89 per share from $82 ahead of earnings next week. Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's sticking with the stock heading into a Trump administration. Morgan Stanley upgrades International Flavors to overweight from equal weight Morgan Stanley said in its upgrade of International Flavors that the fragrance and spice company is undervalued. Morgan Stanley upgrades Viking to overweight from equal weight Morgan Stanley said it sees an attractive entry point for the cruise company.
Persons: it's bullish, NXPI, Mizuho, it's, Morgan Stanley, WMT, Tesla, VIK, Redburn, Ross, Robinson, Wells, Bristol Myers, MoffettNathanson, D.A, Davidson, Snowflake Organizations: Semiconductor, NXP Semiconductor, Nvidia, Mizuho, TAM, 4Q, Citi, Deutsche Bank, Deutsche, " Bank of America, & Co, Bank of America, Apple Locations: eCommerce, VIK, OW, Wells Fargo, Bristol
OpenAI acquired the URL "chat.com," which now redirects to ChatGPT. Analysts say the move strengthens OpenAI's global reach and consumer product positioning. AdvertisementOpenAI's splashy acquisition of a four-letter domain name is a smart strategic play, branding experts told Business Insider. BREAKING NEWS: Secret acquirer of $15+ million domain chat .com revealed and it's exactly who you'd think. "Strategy-wise, I think that for ChatGPT and OpenAI, purchasing a domain like this marks its shift toward a very global audience."
Persons: OpenAI, Dharmesh Shah, , Sam Altman, Shah, it's, Margarita Polishchuk, Gil Luria, Davidson, Nicole Ferry, ChatGPT, Polishchuk Organizations: Service, HubSpot, Business, Amazon, Google, D.A, Sullivan NYC Locations: OpenAI, Clay
Analysts say the move strengthens OpenAI's global reach and consumer product positioning. AdvertisementOpenAI's splashy acquisition of a four-letter domain name is a smart strategic play, branding experts told Business Insider. The domain was previously owned by HubSpot founder and CTO Dharmesh Shah, who confirmed that he sold the domain to OpenAI after buying it in 2023. BREAKING NEWS: Secret acquirer of $15+ million domain chat .com revealed and it's exactly who you'd think. "Strategy-wise, I think that for ChatGPT and OpenAI, purchasing a domain like this marks its shift toward a very global audience."
Persons: OpenAI, Dharmesh Shah, , Sam Altman, Shah, it's, Margarita Polishchuk, Gil Luria, Davidson, Nicole Ferry, ChatGPT, Polishchuk Organizations: Service, HubSpot, Business, Amazon, Google, D.A, Sullivan NYC Locations: OpenAI, Clay
President-elect Donald Trump is returning to the White House , and shares of regional banks are surging on his Election Day victory. Western Alliance Bancorp turned up on the list, with a dividend yield of 1.8% as of Tuesday's close. BPOP YTD mountain Popular shares in 2024 Provident Financial Services turned up on CNBC Pro's screen. Provident posted a profit of 36 cents per share, versus analysts' call for 47 cents a share, per FactSet. Shares are up more than 21% in 2024, and as of Tuesday's close, it had a dividend yield of 5%.
Persons: Donald Trump, Scott Siefers, Piper Sandler, Davidson's Gary Tenner, Tenner, Frank Schiraldi, Piper Sandler's Mark Fitzgibbon, Fitzgibbon, , Fred Imbert Organizations: White, Republicans, Regional Banking, CNBC, Western Alliance Bancorp, Western Alliance, Financial Services, Provident
Morgan Stanley reiterates Apple as buy Morgan Stanley said it's sticking with the stock following the release of the company's annual 10-K analysis. " Morgan Stanley reiterates Amazon as overweight Morgan Stanley raised its price target on Amazon to $230 per share from $210. Morgan Stanley upgrades Entergy to equal weight from underweight Morgan Stanley said the energy company's outlook has improved. " Morgan Stanley upgrades Roblox to overweight from equal weight Morgan Stanley said in its upgrade of the stock that it sees a long runway for growth. " Morgan Stanley downgrades STMicroelectronics to underweight from equal weight Morgan Stanley said it sees too many headwinds from the semis manufacturer.
Persons: Berkshire Hathaway, Price, Morgan Stanley, Apple, Goldman Sachs, Goldman, it's bullish, Rollins, William Blair, TSMC, Bernstein, Trip.com, Morgan Stanley downgrades STMicroelectronics, Hollister comps, Peter Stern, D.A, Davidson, AAPL Organizations: UBS, Berkshire, Citi, Apple, PlayStation, Barclays, Blackwell, Tencent, Entertainment, Trip.com, Bank of America, Inc, KeySight, Qs, Abercrombie & Fitch Citi, of America, " Bank of America, Meta, Walmart Locations: Kazakhstan, LA, China
Here's the outlook for the banks post-election
  + stars: | 2024-11-04 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's the outlook for the banks post-electionGary Tenner, D.A. Davidson senior research analyst, joins 'Money Movers' to discuss why the financials will be impacted by the election, what could offset potential tailwinds for the banks, and much more.
Persons: Gary Tenner, Davidson Locations: D.A
The news Morgan Stanley raised its Amazon price target Monday to $230 per share from $210 — implying 16% upside to Friday's close. Morgan Stanley expects Amazon's shipping and fulfillment cost per package to decrease about 3% each year from 2023 to 2026, reaching $6.51 by 2026. Bottom line Jim Cramer wrote in his Sunday column that Amazon is the "best stock so far" of this earnings season, citing skill execution across all of its businesses. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Morgan Stanley, D.A, Davidson, Jim Cramer, Jim Cramer's, Jim, David Paul Morris Organizations: Amazon, Web Services, CNBC, Bloomberg, Getty Locations: San Francisco
The Colbert County Sheriff’s Office in Alabama is asking the FBI to investigate a case involving a Black man whose body was found hanging in an abandoned home amid claims from his wife that his death was made to look like a suicide. The sheriff’s office requested the FBI's involvement in the death of 39-year-old Dennoriss Richardson, whose body was found in September, according to The Associated Press. The sheriff's office did not immediately respond Saturday to a request for comment from NBC News. "The FBI is aware of the tragic death of Dennoriss Richardson and takes allegations of federal law violations seriously," the FBI said in a statement. Colbert County Sheriff Eric Balentine said, according to AL.com, that police spoke to other family members of Dennoriss Richardson who said he had been depressed.
Persons: Dennoriss Richardson, Leigh Richardson, AP Richardson, Leigh Ann Richardson, It’s, Dennoriss, Eric Balentine, Balentine, Sheriff Balentine, Leigh Ann, AL.com Organizations: FBI, Associated Press, NBC News, AP, Sheffield City Jail, Department of Forensic Science Locations: Colbert, Alabama, Colbert County, Sheffield, Huntsville
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailUlta Beauty will be 'negative' this quarter, says D.A. Davidson's Michael BakerMichael Baker, senior research analyst at D.A. Davidson, joins CNBC's 'The Exchange' to discuss retail earnings and stocks, trends he sees in consumer spending, and more.
Persons: Davidson's Michael Baker Michael Baker, Davidson Organizations: D.A
OpenAI is reportedly teaming up with Broadcom and TSMC to build custom AI chips, per Reuters. OpenAI could have its custom chips by 2026 but is reportedly dropping plans to build its own fabs. AdvertisementBuilding custom AI chips has long been the preserve of a select few tech companies — but OpenAI might be about to join the party. AdvertisementOpenAI's move, which will also reportedly see it incorporate AMD chips into its supply mix, means it would reduce its dependency on Nvidia, the market leader for AI chips. While it's unclear how much OpenAI's reported chip-building push will cost, creating custom AI chips doesn't come cheap.
Persons: OpenAI, , Kate Leaman, Rahul Kulkarni, Maia, Meta, Mark Zuckerberg, Gil Luria, Davidson, Luria, Edward Wilford, Sam Altman, Altman, Pierre Ferragu Organizations: Broadcom, Meta, Google, Service, Reuters, BI, Microsoft, Apple, Tech, Amazon Web, AWS, Nvidia, Big Tech, Street, New, Research, New York Times
Wall Street faces another key litmus test Thursday with results from megacap technology giants Apple and Amazon . For Apple, Wall Street also wants to see its latest iPhone pick up steam, and investors seek more insight into when the company's AI initiative will begin lifting sales. For Apple, Wall Street expects EPS of $1.60 on $94.58 billion in revenue. Amazon's retail business also remains top of mind for Wall Street ahead of the busy holding shopping period. Apple For Apple, Wall Street is eagerly searching for signs of strong demand for its latest iPhone model and updates on its AI strategy.
Persons: Jason Helfstein, Brent Thill, Bank of America's Justin Post, Doug Anmuth, Goldman Sachs, Eric Sheridan, Ronald Josey, Morgan Stanley, Erik Woodring, Jefferies, Edison Lee, Samik Chatterjee, Davidson's Gil Luria, Wamsi Mohan, Tim Long, AAPL, Long Organizations: Apple, Nasdaq, Microsoft, Wall, LSEG, Amazon, StreetAccount, Jefferies, Bank of America's, Apple Intelligence, " Bank of America, Barclays Locations: Amazon
Apple CEO Tim Cook inspects the new iPhone 16 during an Apple special event at Apple headquarters on September 09, 2024 in Cupertino, California. "That should be expected, as Apple Intelligence features (the only reason to upgrade)have yet to be rolled out in a significant way." U.S. carriers, including AT&T, Verizon and T-Mobile, have also seemed unexcited about an Apple Intelligence upgrade cycle. But research firm Counterpoint Research told CNBC in October that iPhone sales, especially for the lower-priced devices, were strong in China. WATCH: Apple Intelligence rollout could be an inflection point, says Futurum Group CEO's Daniel Newman
Persons: Tim Cook, Apple doesn't, Morgan Stanley, Erik Woodring, Davidson, Gil Luria, We're, John Stankey, Malif Atik, Apple, Luca Maestri, Maestri, Kevan Parekh, CEO's Daniel Newman Organizations: Apple, Apple Intelligence, Verizon, Mobile, Huawei, Citi, Research, CNBC, Apple Watch, LSEG, Major League Soccer Locations: Cupertino , California, Spanish, U.S, China, Apple's
Another busy day of megacap technology earnings kicks off Wednesday with results from Meta Platforms and Microsoft after the bell. Wall Street expects Meta Platforms to post third-quarter earnings of $5.25 per share, up from $4.39 a year ago, per LSEG. For Microsoft, EPS and revenue are expected to reach $3.10 and $64.51 billion, respectively, for the fiscal first quarter . Meta Platforms For Meta Platforms, analysts are hunting for signs that AI is continuing to boost the company's core product and advertising spending. Microsoft Microsoft faces a tougher bar headed into the print, with many analysts leaning toward caution as the company lags some of its megacap peers and underperforms the Nasdaq Composite.
Persons: haven't, Davidson, Gil Luria, Citi's Ronald Josey, Citi's Josey, Mark Mahaney, Barton Crockett, Mark Shmulik, Bank of America's Justin Post, Keith Bachman, Citi's Tyler Radke, Morgan Stanley's Keith Weiss, Weiss, Goldman Sachs, Kash Rangan, Azure's Organizations: Meta, Microsoft, D.A, Revenue, Google, Bank of America's, Microsoft Microsoft, Nasdaq, BMO Capital Markets, BMO
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGoogle has a 'big cost advantage' over Microsoft Azure, says D.A. Davidson's Gil LuriaGil Luria, D.A. Davidson managing director and Mark Mahaney, Evercore ISI head of internet research, join 'Closing Bell Overtime' to talk Google and Snap earnings.
Persons: Davidson's Gil Luria Gil Luria, D.A, Davidson, Mark Mahaney Organizations: Google, Microsoft
For Gen Z, retirement is 40 or 50 years away, but now is the perfect time to start saving. Four financial experts shared their top strategies to kick-start retirement savings. Or, it may seem difficult and anxiety-inducing, especially as Gen Z juggles student loan debt, high costs of living, and a tough job market. AdvertisementBusiness Insider asked four wealth advisors for their best tips and tricks on how Gen Z can maximize their retirement savings, starting now. Basic budgeting strategies, such as keeping housing costs at 30% or lower of your total paycheck, can also create a strong foundation for retirement savings, Crowell said.
Persons: , Zers, Z, Gen Z, there's, Andrew Crowell, Davidson, Crowell, Zer, Gen Zers, Ayako Yoshioka, Yoshioka, Roth, haven't, Ashley Weeks, Weeks, Alanna Morey, Morey Organizations: Service, Social Security, Bank of America, D.A, Roth IRA, Equity, Bank
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailApple Intelligence will drive an upgrade cycle, but it won't happen until it's released: Gil LuriaGil Luria, D.A. Davidson Managing Director, joins 'Closing Bell Overtime' to talk Apple iPhone demand and why recent demand data might be misleading.
Persons: it's, Gil Luria Gil Luria, D.A Organizations: Apple Intelligence, Davidson, Apple
Here's a rapid-fire update on all the stocks in Jim Cramer's Charitable Trust, the portfolio we use for the CNBC Investing Club. Broadcom: Of course, we love the company's AI business — both its custom silicon solutions for companies such as Alphabet and its networking chips that help stitch data centers together. Stanley Black & Decker: Jim said that this stock is the "most significant beneficiary" from lower rates in the entire portfolio. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Jim Cramer's, Jim, there's, Lisa Su, Wells, Salesforce, CrowdStrike, it's, we've, Walt Disney, , Eaton, we're, Kamala Harris, Harris, Jim's, Linde, Eli Lilly, Lilly isn't, That's, Morgan Stanley, Goldman Sachs, D.A, Satya Nadella's, Palo, cybersecurity, Brian Niccol, We're, Stanley Black, Decker, TJX, Charlie Scharf, Wells Fargo's, Jim Cramer, Angela Weiss Organizations: Jim Cramer's Charitable Trust, CNBC, Club, Apple Intelligence, Abbott Laboratories, Devices, AMD, Nvidia, Broadcom, Apple, Federal Reserve, Costco Wholesale, Costco, Coterra, DuPont, Disney, ESPN, GE Healthcare, Democratic, Biden, Honeywell, Linde, Adobe, Microsoft, Davidson, Palo Alto Networks, Constellation Brands, Modelo, Corona, TJX, Jim Cramer's Charitable, New York Stock Exchange, AFP, Getty Locations: Wells Fargo, BlackRock, Dover, Eaton, China, U.S, Chipotle, New York City
As artificial intelligence fuels the boom in data center growth, investors are eyeing a new frontier: the companies keeping these digital powerhouses cool. That's because historically, data centers used air cooling to manage the heat generated by traditional cloud applications. Triple data center growth Vertiv and Modine are legacy air cooling players that entered the liquid cooling market through acquisitions, while nVent is a pioneer. "The need for liquid cooling is not cannibalizing the need for mechanical (air) cooling," Matt Summerville, an analyst at D.A. "The need for liquid cooling is not cannibalizing the need for mechanical (air) cooling," Matt Summerville, an analyst at D.A.
Persons: Modine, there's, Dean Dray, Matt Summerville, Davidson, Summerville, William Blair, Brian, nVent, Dray, Vertiv, Jefferies, Saree Boroditsky, Boroditsky Organizations: Modine, RBC Capital Markets, CNBC, D.A, CoolTerra, TMG, Scotts, Scotts Springfield Manufacturing, Asia Pacific, CDU, Summerville, Luza Locations: Scotts Springfield, Asia, Summerville
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